Automotive and Transportation Research Reports

The Usage-Based Insurance Market for automotive is estimated to be USD 28.43 billion in 2018 and is projected to reach USD 95.81 billion by 2025, at a CAGR of 18.95%. The growing market for connected cars services, increasing regular vehicle insurance, and increased customer acceptance of connected services will drive the market for usage-based insurance. Usage-based insurance providers should focus on open platforms for integration of any application. For instance, Octo Telematics launched its Next Generation Platform (NGP), a business and technology investment of more than USD 40 million. The platform provided open access and seamless integration of any Application Programming Interface (API) as well as a fully-modular insurance telematics structure, offering flexibility through mix-and-match service selection. The development of the platform as an IoT ecosystem provided innovators the scope and ability to meet the rapidly growing global demand for user-based insurance. Hence, u

The truck platooning market is projected to grow to USD 2,728.7 million by 2030 from USD 37.6 million in 2021, at a CAGR of 60.96% during the forecast period. Reduction in operating cost, driver shortage, and developments in V2X technologies are the key factors driving the market for truck platooning. Additionally, the growing environmental concerns, efforts to increase fuel efficiency, stringent government regulations for emission, and increasing concerns of traffic congestion have accelerated the growth of the truck platooning market. Driver-assistive truck platooning (DATP) is projected to dominate the truck platooning market during the forecast period. However, developments in fully autonomous truck platooning will create new opportunities for OEMs, Tier 1 suppliers, and service providers. For example, Scania (Sweden) is working towards developing a fleet of fully autonomous trucks with an aim to organize a platoon of 4 trucks, where 3 trucks will follow the lead truck autono